Leobit
An AI-Powered Tool for Invoice and Receipt Data Extraction
Custom software development of a PoC powered by Azure AI Document Intelligence.
ABOUT the project
- Client:
- Leobit's Internal Project
- Company Size:
- 100+ Employees
- Industry:
-
Information Technology
- Solution:
- Custom Software Development
A solution for invoice and receipt data extraction. Our tool uses a custom classification model to identify the type of document to be parsed and uses the functionality of Azure AI Document Intelligence to extract data from receipts and invoices.
We managed to leverage Azure AI Document Intelligence to create a framework that can be applied for deploying document parsing solutions across industries. Our approach has great potential as it can be adapted to different types of documents.
Customer
This was an internal project designed to help our clients manage financial documentation more efficiently. It also allowed us to take a closer look at the capabilities of Azure AI Document Intelligence.
BUSINESSCHALLENGE
Maintaining accuracy in expense management is a challenging task because of significant amounts of receipts and invoices that need to be processed. Organizations across industries need automation for managing such documents and parsing critical financial data.
Project
in detail
The project started with the examination of Azure AI Document Intelligence capabilities. It can be roughly divided into three consecutive stages.
OCR Data Extraction
The tool uses the capabilities of Azure AI Document Intelligence for receipt and invoice scanning and understanding document semantics to ensure more efficient expense management. Custom classification algorithm helps the solution identify the type of the document to be processed. Upon identifying the document type, the tool retrieves critical data from invoices and receipts. This information is displayed to the user in convenient visual or JSON views.
Rich Potential for Continuous Upgrade
We can use the development framework from this project to build analogous tools capable of extracting data from other types of documents. For example, the same approach can be applied for processing legal contracts, identity proofs, resident permits, health insurance cards, etc.
Implementation across Various Industries
Our invoice and receipt OCR software can be applied across a variety of industries. For instance, it can help fintech businesses automate expense-refund mechanisms. Other industries where the tool will come in handy include legaltech, real estate, healthcare, insurtech, logistics, etc.
Explore
The solution prototype
A proof of concept that transforms unstructured invoice and receipt information into clear, actionable insights. Powered with Azure Document Intelligence, the tool automatically performs invoice and receipt data extraction , which includes critical financial data, such as totals, line items, and taxes.
Technology Solutions
- Capabilities of Azure AI Document Intelligence for parsing receipts and invoices
- Custom document classification algorithm
- Convenient UI built with Angular that uses .NET back end to connect to Azure AI Document Intelligence
Value Delivered
- A tool for efficient expense management across industries
- Automation for extracting critical data from invoices or receipts
- Rich potential for continuous development
- A PoC that leverages Azure AI Document Intelligence for receipt and invoice parsing built in less than a week
